Some buyers or sellers may want to move up the closing date to accommodate their moving logistics or just to speed up the process. Is this permissible? Both the buyer and the seller have met their obligations for closing early, and agree to move the closing date up by 10 days. Your purchase agreement also may state that a buyer who misses the original closing date must pay the seller a penalty, such as a flat fee or a daily charge for each day past the original closing date, compensating the seller for additional tax, insurance, and mortgage payments in the interim. He chose to list his home and now the buyer lender and buyer's agent have a lot of time money and emotion invested. A delay in closing is not an uncommon situation. Close in the morning, and not on Fridays when possible. Your real estate agent can negotiate a new closing date that generally will add an additional 10 to 30 days to the closing date, giving the buyer more time to tie up their loose ends. The buyer finds unexpected condition issues or other circumstances in the home that cause them to renege.
Several circumstances, popping up on either the buyer's or seller's side, can make it impossible to finalize the sale on the specified date.
5 Penalties for Missing Your Closing Date. Sellers were unable to remove their belongings from a home before the closing. However, if the buyer is asking for possession of the home before closing, they likely expect you to be out of the home as soon as possible or on the closing date at the latest.
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